Guideline Value for DURAISAMY NAICKEN STREET

Duraisamy Naicken Street guideline value

The current guideline value of Duraisamy Naicken Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Saidapet village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Duraisamy Naicken Street has changed

The guideline value for Duraisamy Naicken Street has seen several revisions over the years. In 2002, the guideline value was Rs 589 per sq.ft, which increased to Rs 763 per sq.ft in 2003, marking a 30% rise. Following this, the value rose to Rs 1,100 per sq.ft in 2007, reflecting a 44% increase. The next revision in 2012 saw a decline to Rs 3,000 per sq.ft, a decrease of 173%. In 2017, the value increased to Rs 2,010 per sq.ft, a 49% rise. The 2023 revision set the value at Rs 3,000 per sq.ft, and the current revision in 2024 has increased it to Rs 3,300 per sq.ft, representing a 10% increase.

There are no figures available for the revisions in the years not specified. Overall, from 2002 to 2024, the guideline value has increased by 460%.

Guideline values in Saidapet

In Saidapet, there are 106 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. Duraisamy Naicken Street's 2024 guideline value is below this median.

• Duraisamy Garden Street: Rs 3,300 per sq.ft (2024)
• East Kulakkarai Street: Rs 3,300 per sq.ft (2024)
• Ekkattuthangal Road: Rs 8,250 per sq.ft (2024)
• Dhanasekaran Street (Raja Naicken G): Rs 4,400 per sq.ft (2024)
• Devu Naidu Street: Rs 3,300 per sq.ft (2024)
• Deewan Bashyam Iyengar Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Duraisamy Naicken Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000. Together, the total cost for these fees would be Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Duraisamy Naicken Street?

The Sub Registrar Office that covers Duraisamy Naicken Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Saidapet

The guideline value is a critical factor when buying or selling property in Saidapet. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property transaction occurs, the guideline value is used to calculate the stamp duty and registration fees. This ensures that all transactions are documented accurately and reflect the appropriate financial obligations based on the established guideline values.

Frequently asked questions

What is the current guideline value of Duraisamy Naicken Street?

The current guideline value of Duraisamy Naicken Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 589 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 460%.

What is the land classification for Duraisamy Naicken Street?

Duraisamy Naicken Street is classified as Residential Class III Type - I.

What are the stamp duty rates applicable for properties in this area?

The stamp duty for properties in Duraisamy Naicken Street is charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Duraisamy Naicken Street?

The Sub Registrar Office for Duraisamy Naicken Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.